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News Highlights : Top Energy News of the Day

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02/14/2020 | 04:16pm EST
Oil Futures Gain Ground 

Oil futures gained ground, putting crude on track for its first weekly rise in six weeks.

U.S. Oil-Rig Count Rises by Two in Latest Week 

The number of rigs drilling for oil in the U.S. rose by two in the past week to 678, according to oil-field services company Baker Hughes.

Shell Aims to Enroll Thousands in Online Artificial-Intelligence Training 

The oil company is expanding an online program that teaches its employees artificial-intelligence skills, part of an effort to cut costs, improve business processes and generate revenue.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Philadelphia Energy Solutions Sues Insurers Over Disaster Coverage 

Philadelphia Energy Solutions secured approval of a debt repayment plan, but action continues in bankruptcy court as the refiner tries to collect on $1.2 billion in insurance it said was triggered by the explosion that drove it into chapter 11.

Oil Demand Expected to Shrink for First Time in Over a Decade 

An economic slowdown in China related to the coronavirus outbreak is set to contribute to a fall in oil demand in the first three months of the year, according to the International Energy Agency.

PG&E's Fire Victims Set to Become Its Biggest Shareholders 

While companies have used shares in the past to help pay claims to asbestos victims and others, some legal experts say the trust PG&E aims to set up for California wildfire claimants poses unusual risks.

Centrica Posts GBP1B Loss on Price Caps 

British Gas owner Centrica swung to a loss of GBP1.1 billion in 2019 as the company was hit by a challenging environment, especially with the cap on U.K. household energy bills.

Schneider to Buy Germany's RIB Software 

Schneider Electric has launched an agreed EUR1.4 billion offer for German construction software company RIB Software, with the deal expected to close in the second quarter.

Philadelphia Energy Solutions Moves Closer to Bankruptcy Exit With Junior Creditor Deal 

Philadelphia Energy Solutions won unsecured creditor support for a bankruptcy buyout by Hilco Redevelopment Partners, which bumped up its offer to $252 million in continued competition over the troubled oil refinery.


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